(Boursier.com) – This is a first since 1969 …! Germany has achieved last year, a balanced budget, a year ahead of schedule. The European Commission was expecting in fact, in his last autumn forecast, the general government deficit to 0% of GDP in 2015, after -0.2% in 2014.
Dynamic Tax Revenue
two reasons for this result. On the one hand, tax revenues were particularly strong, rising to 270.8 billion euros, 2.6 billion more than the most recent forecast, according to preliminary data on the implementation of the 2014 budget provided by the Ministry of Finance and cited by Reuters.
Low interest rates
On the other hand, federal spending was lower than expected. A 295.5 billion euros, they had never been so low for five years. This result is explained by the low interest rates applied by the European Central Bank (ECB), allowing Germany to reduce the burden of servicing its debt. Faced with sluggish growth and very low inflation, the central bank has indeed lowered several times its interest rates to record lows. The refinancing rate is 0.05%, while the marginal facility rate is 0.30% and the deposit rate is maintained at -0.20%.
M.D. with Reuters – © 2015 Boursier.com
No comments:
Post a Comment